EURUSD is losing ground again as it did on Friday after last weeks huge explosion higher from the 1.2750 key support. This market is currently trading in a range between support at 1.2750 and resistance near 1.3180-1.3200. If the market continues higher early in the week and moves up to re-test that resistance, watch closely for a 4 hour or daily price action sell signal to trade from. If it goes down today and closes breaks below Friday’s low, it forms one of the signals I’m learning and could drop significantly lower.

The GBPUSD on the weekly chart above this market had a huge upward move week last week as it pushed up from key support at 1.4800-1.4830 area. Despite the surge higher last week, this market has lost significant ground, and the momentum is still bearish and this market could indeed stall at resistance and continue lower in-line with that previous downtrend soon. The daily chart below shows a similar signal forming, and if the price breaks below Friday’s low, it’s a signal according to the course I’m doing.

Happy trading everyone. If you haven’t yet opened a demo account, I’m still practicing trading and all that I’m learning from this course on a demo account, then please call me on (082) 561 4455.

GBPUSD Market Update The GBPUSD surged higher yesterday, retracing up on the recent move lower. As you can see in the chart below the momentum is still bearish now and so we can look to trade in-line with this momentum by watching for price action sell signals from resistance. The main value or resistance area to watch for sell signals is up near 1.

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About Haroun Kola

I'm blog mostly about Forex Trading as that occupies most of my productive time. Novice traders who wish to learn to trade the market can call me on (082)561-4455, send your BitCoin tip to 1NYghpMRNPQ8VXGC7NES6Bj9VaPJH6bVEV

Risk warning: Please note: Your capital is at risk, leveraged products are not be suitable for everyone as it is possible to lose more than the funds you deposit.Please understand all the risk involved before you start trading.